Credit memo

Credit memo
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Credit memo a written document issued by the creditor informing the debtor about the remission of a given debt. An example is issuing a credit memo by the supplier to the buyer if there was an error in the invoice, the return of the goods or their damage.[1]

Issuing a credit memo[edit]

Credit memo is issued in writing. It is one of the basic documents in the course of trade, which corrects intra-Community trade in goods (in the domestic trade it is a "correcting invoice").

Credit memo is issued in the following situations:

  • return of purchased goods for which a primary invoice has been issued,
  • finding a mistake in the price, rate or amount of tax on goods and services,
  • grant discounts, return the goods to the seller, refund the amounts unduly paid or advances, prepayments, deposits or installments subject to taxation.

What elements should be included in the credit memo[edit]

Credit memo does not differ from the original invoice, but it should contain the following elements:

  • the word "CREDIT MEMO",
  • the credit memo number,
  • the date of issue,
  • data included in the invoice to which the correcting invoice applies,
  • the reason for the correction.

Each credit memo must necessarily have the cause of the invoice correction, so it must be justified. The provision entered into force on 1 January 2014. Previously, the reason for the correction was necessary only for the correction, which led to a reduction in VAT. Currently, the reason for the correction, regardless of the basis of its implementation, must always be specified in the new document.

Correction of mistakes[edit]

Credit memo can be used to correct mistakes regarding:

  • unit price of goods or services without tax amount (net unit price),
  • the measurement and quantity of goods sold or the scope of services provided,
  • the sum of net sales value of goods or services performed divided into individual tax rates and exempt from tax, and non-taxable,
  • the value of the goods or services provided for sale, without the tax amount (net sales value),
  • tax rates,
  • the total amount of receivables, including the tax due,
  • the amount of tax on the sum of the net sales value of goods (services), broken down by the amounts for individual tax rates.

Confirmation of receipt of credit memo[edit]

All returns of goods or changes in the prices of specific products - due to granted rebates, can be documented through a credit memo. There is no obligation to sign invoices or to place stamps on them. However, an entrepreneur who wants to reduce the amount of VAT due [2] must necessarily have a confirmation of receipt of the credit memo by the contractor. The taxpayer must have an invoice receipt before the due date when he must submit a declaration for the period in which the credit memo was issued. However, if for exceptional reasons, the taxpayer does not receive confirmation in time (before the date referred to above) he has the right to reduce the tax due from the issued credit memo in the settlement for the period in which he received the confirmation.


  1. Duchac J, Reeve J, Warren C. (2011)
  2. (2004), Dz.U. nr 54 poz. 535


Author: Klaudia Wróbel